Limestone Damage Likely to Kill Lease Deal

Steven Cin, owner of Public Brewing Co., says the amount of destruction will probably make it financially impossible for him to take over the space.

A company that had hoped to fill the space vacated by is now reconsidering given what they say is a huge amount of damage left by the previous owners.

According to a story in the Joliet Herald News, Steven Cin and his group, Public Brewing Co. -- who owns Tommy Nevin’s Pub in Naperville, Frankfort and Evanston, Pete Miller’s Seafood and Prime Steak in Evanston and Wheeling and Irish pubs in Willowbrook and Wheaton -- may opt out of the deal based on the damaged interior.

But former Limestone owner Jan Isley, who last month, told the newspaper the building was not as bad as described. However, she did acknowledge that some work had to be done, incuding the removal of a wall, in order to take out equipment that was relocated their new location at 4030 Fox Valley Center Drive in Aurora.

To read the full story, click here.

TC April 10, 2012 at 09:38 PM
If anyone bothers to check the Will county court records they will realize that this wasn't a problem negotiating a new lease it was a problem with paying for their current lease. Just because you can brew beer does not mean you can run a business. Look at Finnegans. Another good example of runnning a perfectly good business into the ground!!
Mike April 12, 2012 at 04:15 AM
Correct me if I'm wrong here...But Limestone leased this space when it was vacant. So all the improvements they did to the interior were at their cost. Those improvements, furniture, walls, brewing equipment, were not "property" that should have been part of the proposed deal to the new potential occupants. If Limestone had stripped the entire interior and walls down to the studs as it was when they entered, would that not have been within their rights?
Irena Sendler April 12, 2012 at 02:20 PM
The equipment/FFE belonged to LS, yes. But, they had borrowed $80K from the landlords for improvements, which they never paid back (as well as being 8 months behind in rent) so technically they were damaging the unit, for which they still owed a lot of money on. The irony in all of this is how Limestone tries to point at the landlords as the bad guys (don't get me wrong, they are scumbags) yet Limestone couldn't even pay the rent. They blame the landlord for not willing to renegotiate the bad deal that Limestone knowingly agreed to. #dontbeavictim
Irena Sendler April 12, 2012 at 02:23 PM
And how about lousy reporting.... How can the Tommy Nevins group stand to take this place over? There is technically no landlord, because the strip is in BK (auction), and no one can even sign a lease until someone owns the property. Tommy Nevins guys may have a deal with someone that 'thinks' they are going to buy the property out of auction, but that hasn't happened yet. Supposedly, the landlords that filed BK on this property, have found investors that are trying to buy it from bank, but they don't have enough money either.
Irena Sendler April 12, 2012 at 02:25 PM
Word is, they did damage to the structure (dislodged door jambs, holes in walls, ripped out plumbing etc etc).


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